Short Interest in MFS Municipal Income Trust (NYSE:MFM) Decreases By 41.9%

MFS Municipal Income Trust (NYSE:MFM) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 22,900 shares, a drop of 41.9% from the March 15th total of 39,400 shares. Based on an average daily volume of 111,900 shares, the days-to-cover ratio is presently 0.2 days.

MFS Municipal Income Trust Price Performance

Shares of MFS Municipal Income Trust stock opened at $5.01 on Thursday. MFS Municipal Income Trust has a 52 week low of $4.94 and a 52 week high of $5.78. The business has a 50 day moving average price of $5.36 and a 200-day moving average price of $5.47.

MFS Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $0.0215 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.26 annualized dividend and a yield of 5.15%.

Institutional Trading of MFS Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its holdings in MFS Municipal Income Trust by 6.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 573,615 shares of the closed-end fund’s stock valued at $3,069,000 after purchasing an additional 36,785 shares during the last quarter. Van ECK Associates Corp raised its position in shares of MFS Municipal Income Trust by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 346,432 shares of the closed-end fund’s stock valued at $1,853,000 after purchasing an additional 15,058 shares during the period. Choreo LLC boosted its holdings in MFS Municipal Income Trust by 9.0% in the 4th quarter. Choreo LLC now owns 98,145 shares of the closed-end fund’s stock worth $524,000 after buying an additional 8,079 shares during the period. Park Avenue Securities LLC grew its stake in MFS Municipal Income Trust by 7.2% in the 4th quarter. Park Avenue Securities LLC now owns 134,564 shares of the closed-end fund’s stock valued at $720,000 after buying an additional 8,993 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in MFS Municipal Income Trust by 5.9% during the 3rd quarter. MML Investors Services LLC now owns 39,303 shares of the closed-end fund’s stock valued at $225,000 after acquiring an additional 2,206 shares during the period.

About MFS Municipal Income Trust

MFS Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.